Morgan Stanley's 15,000 Advisors Begin Offering Bitcoin ETFs to Clients on August 7, 2024

Aug 6, 2024, 02:48 PM

Morgan Stanley has authorized its 15,000 financial advisors to begin offering spot Bitcoin ETFs to clients starting August 7, 2024, marking a significant move as the first major Wall Street bank to do so. This development allows advisors to pitch Bitcoin ETFs, including those by BlackRock and Fidelity, to high-net-worth clients. The initiative is part of Morgan Stanley's broader strategy to integrate cryptocurrency offerings into its wealth management services, managing $1.3 trillion in assets and $5.7 trillion in client assets. This move is expected to set a precedent for other financial institutions, with Wells Fargo and UBS anticipated to follow suit.